Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Turbo Hammer on September 23, 2018, 02:17:32 PM
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Lately a nice project has appeared on the site:
https://powh.io
the project is introduced with these words:
Quote
Every trade, buy or sell, has a 10% flat transaction fee applied. Instead of this going to the exchange,
the fee is split between all currently held tokens!
10% of all volume this cryptocurrency ever experiences, is set aside for you the token holders, as ethereum rewards that you can instantly withdraw whenever you'd like.
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COMPLETELY DECENTRALIZED, HUMANS CAN'T SHUT IT DOWN.
the project claims to produce coins by the way of a system that they call Proof Of Weak Hands. Early sellers lose money which goes to the holders. The concept is brilliant, but technically is a sort of trusless Ponzi scheme, at least in my humble opinion. Since the system is trustless, nobody can scam anyone, but the system itself is designed to punish some so as to reward others.
They had also made an ANN about this project which then they locked as someone started to put questions that they didn't like:
https://bitcointalk.org/index.php?topic=3182802.0
Which are your thoughts about? I personally like it, even though i am aware of certain intrinsec limits of the mechanism, so that in the whole I would consider putting money there a gamble rather than an investment.